Kendrick Resources (LSE:KEN) has announced a significant development at its Teufelskuppe rare earth project in southwest Namibia, where updated volumetric modelling and a high-resolution digital elevation survey have outlined approximately 14 million tonnes of high-grade, near-surface carbonatite mineralisation.
According to the company’s internal non-JORC estimate, supported by bulk density measurements, the exposed mineralisation carries total rare earth oxide (TREO) grades ranging from 2.2% to 7.06%. Kendrick said the results position Teufelskuppe among the highest-grade rare earth projects globally, with the added advantage of clearly visible and easily accessible mineralisation that could reduce geological and development risk.
Management noted that the current estimate relates only to the exposed surface component of the mineralised system. Previous drilling has already confirmed significant mineralisation extending at depth, indicating potential for further resource expansion. The company also highlighted nearby Kieshöhe as a prospective area that may host even larger open-pittable mineralised volumes.
Kendrick is continuing diamond drilling and channel sampling programmes at Teufelskuppe with the aim of converting both surface and subsurface mineralisation into a JORC-compliant resource estimate. The company believes ongoing exploration success could strengthen its position within the global rare earths market.
Kendrick’s overall outlook continues to be constrained by weak financial fundamentals, including the absence of revenue, recurring losses, negative cash flow, and a significantly weakened 2025 balance sheet marked by negative equity and a sharp reduction in assets. While technical indicators remain comparatively positive, with the shares trading above major moving averages and maintaining supportive momentum, these factors are outweighed by the financial and valuation risks associated with the company’s ongoing losses and negative price-to-earnings ratio.
More About Kendrick Resources PLC
Kendrick Resources Plc is a mineral exploration and development company focused on advancing resource projects primarily across southern Africa. The company is currently developing the Bonya rare earth project in Namibia alongside the Blue Fox licence in northwest Zambia, with a strategy centred on progressing assets toward production or value-generating transactions.
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